Rockwell Automation (NYSE:ROK) Price Target Lowered to $285.00 at Barclays

Rockwell Automation (NYSE:ROK) had its target price dropped by Barclays from $290.00 to $285.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Barclays‘s target price would indicate a potential upside of 1.19% from the stock’s current price.

ROK has been the topic of several other reports. Robert W. Baird upped their price target on shares of Rockwell Automation from $290.00 to $305.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 26th. Citigroup upped their target price on shares of Rockwell Automation from $313.00 to $345.00 and gave the company a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of Rockwell Automation from $293.00 to $305.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. UBS Group began coverage on Rockwell Automation in a research report on Wednesday, November 13th. They set a “neutral” rating and a $313.00 price target on the stock. Finally, Jefferies Financial Group raised Rockwell Automation from a “hold” rating to a “buy” rating and raised their price objective for the company from $290.00 to $350.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $300.89.

Rockwell Automation Price Performance

Shares of NYSE ROK opened at $281.64 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.08 and a quick ratio of 0.72. The business has a 50-day moving average of $286.88 and a 200-day moving average of $273.74. The stock has a market capitalization of $31.83 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 3.12 and a beta of 1.36. Rockwell Automation has a fifty-two week low of $242.81 and a fifty-two week high of $307.71.

Rockwell Automation (NYSE:ROK) last posted its quarterly earnings results on Thursday, November 7th. The industrial products company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.07. Rockwell Automation had a return on equity of 30.42% and a net margin of 11.53%. The firm had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period last year, the company earned $3.64 earnings per share. The business’s revenue was down 20.6% compared to the same quarter last year. As a group, sell-side analysts predict that Rockwell Automation will post 9.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Blake D. Moret sold 26,700 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $298.63, for a total transaction of $7,973,421.00. Following the completion of the sale, the chief executive officer now owns 78,115 shares of the company’s stock, valued at approximately $23,327,482.45. This represents a 25.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Scott Genereux sold 278 shares of Rockwell Automation stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $302.04, for a total transaction of $83,967.12. Following the completion of the transaction, the vice president now directly owns 3,184 shares in the company, valued at $961,695.36. This trade represents a 8.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,541 shares of company stock worth $10,586,674 in the last quarter. 0.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rockwell Automation

A number of large investors have recently modified their holdings of ROK. Richardson Financial Services Inc. boosted its stake in Rockwell Automation by 100.0% in the third quarter. Richardson Financial Services Inc. now owns 96 shares of the industrial products company’s stock valued at $26,000 after buying an additional 48 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Rockwell Automation in the third quarter worth about $26,000. Darwin Wealth Management LLC acquired a new stake in shares of Rockwell Automation in the 3rd quarter valued at approximately $34,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Rockwell Automation in the 2nd quarter valued at approximately $36,000. Finally, DiNuzzo Private Wealth Inc. grew its holdings in shares of Rockwell Automation by 1,707.7% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 235 shares of the industrial products company’s stock valued at $63,000 after purchasing an additional 222 shares during the last quarter. Institutional investors and hedge funds own 75.75% of the company’s stock.

About Rockwell Automation

Rockwell Automation, Inc provides industrial automation and digital transformation solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates through three segments, Intelligent Devices, Software & Control, and Lifecycle Services. Its solutions include hardware and software products and services.